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Thread: Flaw in en-bloc mediation process

  1. #1
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    Default Flaw in en-bloc mediation process

    http://www.straitstimes.com/ST%2BFor...ry_230120.html

    April 23, 2008

    Flaw in en-bloc mediation process


    IN A collective property sale, minority objectors create uncertainty, resulting in hardship for the 80 per cent majority owners, as follows:

    # They cannot commit to a new home and property prices may rise against them;

    # They may commit to a new home but are unable to get the sales proceeds to pay for the new property;

    # They lose interest on the sales proceeds (which may be a substantial amount) while the minority holds out; and

    # They are unable to rent at market rates because of the long sale process.

    To add insult to injury, under the mediation process, minority objectors are legally allowed to negotiate with buyers for higher compensation, which can run into millions of dollars.

    When successful, such payments to minority objectors are kept 'strictly confidential'.

    As the law should be equal for all Singaporeans, the authorities should remove this legal loophole by abolishing the mediation process. Objectors should object on the grounds of whether the sale process is fair, transparent and handled in good faith. There must be transparency in the legal system.

    Ong Boot Lian (Mdm)

    'I think 99 per cent, as she suggested, is too high. Perhaps 90 per cent is more reasonable.'
    MR WILLIAM TAY, responding to Ms Susan Prior's suggestion to increase the percentage required before a collective property sale can be approved. The current rate is 80 per cent

  2. #2
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    Default Re: Flaw in en-bloc mediation process

    Revert to 100% consent. There will be no minority, only majority. How nice. Better still, no to enblocs. Sell only when one feels right, proper and ready.

  3. #3
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    Default Re: Flaw in en-bloc mediation process

    Enbloc is itself a flaw.Always 2 sides to a coin.

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    Default Re: Flaw in en-bloc mediation process

    mdm Ong must be from Regent Garden becos dat's the only place with high compensation for minority owners, running into millions.

    another jealous owner who can't accept that they got less!

  5. #5
    Fred
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    Default Re: Flaw in en-bloc mediation process

    Wah! Millions ?!
    You sound like the Minority. Congratulations , man! Teach the enbloc raiders a lesson.

    Fred

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    Default Re: Flaw in en-bloc mediation process

    Quote Originally Posted by Norman
    mdm Ong must be from Regent Garden becos dat's the only place with high compensation for minority owners, running into millions.

    another jealous owner who can't accept that they got less!

    Norman, I have been suspecting that you are either one of the minorities or related to one of the six minorities at Regent Garden, and the above last sentence nailed you in.

    I do not know if Mdm Ong is from Regent Garden, but your incessant attack on the majorities of Regent Garden leaked out your identity because there are 6 minorities in RG and when they shared about $2.0m (according to court papers), each unit gets less than $400k, not millions.

    There are many, many other cases of minorities getting up to half a million each in other estates. Either you do not know, or pretend not to know because you developed a passion for attacking the majority owners, especially Regent Garden.

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    Default Re: Flaw in en-bloc mediation process

    Quote Originally Posted by James Tan
    Norman, I have been suspecting that you are either one of the minorities or related to one of the six minorities at Regent Garden, and the above last sentence nailed you in.

    I do not know if Mdm Ong is from Regent Garden, but your incessant attack on the majorities of Regent Garden leaked out your identity because there are 6 minorities in RG and when they shared about $2.0m (according to court papers), each unit gets less than $400k, not millions.

    There are many, many other cases of minorities getting up to half a million each in other estates. Either you do not know, or pretend not to know because you developed a passion for attacking the majority owners, especially Regent Garden.
    no leh. if i minority and getting $400k, i won't be taxi driver like u. after all, u and i both passion about an estate we dun live in wat!

    eh.. i thot u said undisclosed amount for RG mnorities? how come now you know only $2m?

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    Default Re: Flaw in en-bloc mediation process

    Quote Originally Posted by James Tan
    There are many, many other cases of minorities getting up to half a million each in other estates. Either you do not know, or pretend not to know because you developed a passion for attacking the majority owners, especially Regent Garden.
    what many many estate r u tokking abt, with half a million profit for minorities?

    i believe most estate if minorities kana such bribery, will be no objection in STB correct? i also believe many many estate now got objection in STB.

    of cos if u tokking abt financial loss, r u saying minorities no longer entitle to money they entitle to legally?

    so which many many estate?

  9. #9
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    Default Re: Flaw in en-bloc mediation process

    Quote Originally Posted by Norman
    what many many estate r u tokking abt, with half a million profit for minorities?

    i believe most estate if minorities kana such bribery, will be no objection in STB correct? i also believe many many estate now got objection in STB.

    of cos if u tokking abt financial loss, r u saying minorities no longer entitle to money they entitle to legally?

    so which many many estate?

    Wrong, vari, vari wrong. You MUST first object, then can be offered extra moni. No object, no coffee moni, understand?

    find out uself lah, u soo smart know Mdm Ong from Regent Garland ass u claimed earlier, so u should know everything under the moon, dont u?

    hey, u claimed 2 B taxi diver, how cum soo much hour surfing like u got nuting 2 do? No passenger 4 u, lah, bcos no more en bloc profits 2 take taxi? NO RightMAN

  10. #10
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    Default Re: Flaw in en-bloc mediation process

    Quote Originally Posted by Norman
    no leh. if i minority and getting $400k, i won't be taxi driver like u. after all, u and i both passion about an estate we dun live in wat!

    eh.. i thot u said undisclosed amount for RG mnorities? how come now you know only $2m?

    U r the only 1 passion about Regent Garden. In other threads not relating to RG, you got so worked up when some 1 simply mentioned the name.

    In this thread, the moderator just published one letter from Forum without mentioning the name of any estate, and YOU JUMP, JUMP, JUMP and JUMP , so cocksure that Mdm Ong MUST BE FROM REGENT GARDEN, and only you so ccocksure, no other reader knows anything.

    Fred said millions, and u said running into millions. You started with millions, so I simply joined you with the minimum of millions -- two, can't be one, not likely to be 3, 4 or 5 bcos developer refused to pay $39.7m., forced sale at $34.0m. Divided the difference of $5.7 m. by two (share between developer and 6 minorities) it would be about $2.8m. for each side, but developer pays expensive legal fees, so round down to $2.0m. since cannot be $3.0m.

    So simple arithmatic even kindergarten kids can do and you cannot add 2 plus 2?

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